
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Mention and describe at least three (3) regional trade agreements.
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- What is the responsability of the importer and exporter in delivery,transportation, and necessary documentation of goods under CIF incoterm and Documentation Collection payment?arrow_forwardAccording to the theory of comparative advantage, trade can benefit A. the exporting country involved in a trade. B. neither country involved in a trade. C. both countries involved in a trade. D. the importing country involved in a trade.arrow_forwardReasons why there is risk of non-payment in international transactionarrow_forward
- Requirements that are needed for another country and foreign enforceable contract in protecting business interestsarrow_forwardSome trade companies exported goods under CIP trade terms, during whole130%transportation process, the folowing risks, losses and expenses occurred:(1) Suffered transport vehicles capsizing during transit from the warehouse to the departure port, and resulted in some goods damage.(2) During the loading of the goods from departure port to the ship, one entire package goods faling on shore, caused goods complete damage, and one entirepackage goods falling into the sea, caused some goods slight damage.(3)The ship sufered tsunami during sailing, the engine couldn't work properly, and the ship couldn't move.I(4)Asked tugboat for rescue, and went to refuge port for repairing the ship, and paid salvage charges and warehousing charges.(5) After repairing the ship, the ship sailed again, but suffered heavy weather, caused damage of some goods in the cabin A.(6) Whereafter, suffered grounding, caused complete damage of fragile goods in cabin B.(7) When the ship arrived at the port of destination…arrow_forwardConsider a case of a public entity thinking of procuring construction services for its citizens. The procurement manager is stuck between using a foreign or domestic supplier and making a recommendation for the appropriate procurement method. Q.1 Under what circumstances may the public entity use open domestic bidding? Identify and explain FOUR circumstances.arrow_forward
- Regional trade blocs were created to encourage partnerships between high-income developed countries, and lower-income developing countries. One such trading bloc, - the ‘CARICOM Single Market and Economy’ was established with the objective of expanding intra-regional and extra-regional trade, among other objectives as outlined in Article 6 of the Revised Treaty Establishing the Caribbean Community including the CSME. Discuss whether the creation of this trading bloc significantly expanded intra-regional and extra-regional trade in goods and services for CSME participating member states. Discuss with the use of practical examples and data to support your position. In your discussion cite some CARICOM trade policy instruments/measures implemented to help propel intra/extra-regional trade. You can use your home country (if a member of CSME) as a reference point in your discussion. The essay/ report should contain a clear introduction to the topic, content on the theories and principles…arrow_forwardWhat are the six standard export documents? For each standard export document, who prepares it, who receives it, and what purpose does it serve? What common information do many standard export documents share? Besides the six standard export documents, identify five other export documents. Under what circumstances might these other export documents be required? For each other export document, who prepares it and what purpose does it serve?arrow_forwardFor the bilateral sales contracts, the dollar value is $500 or more is not enforced unless it's in writing. What dollar amount is applicable to a Unilateral contract?arrow_forward
- What is an industrial license agreement? When is an industrial license agreement necessary between two companies? What are the advantages of a United states auto parts company having an industrial license agreement with another Auto parts company in Scotland? How does the auto part company in the Unites States decide that a foreign company is a good partner for an industrial license agreement?arrow_forwardDiscuss the General Agreement on Trade in Services (GATS) in terms of the framework agreement, the GATS Annexes and the GATS Schedules of Specific Commitments and consider whether “Progressive Liberalisation” is a realistic long-term objective for GATSarrow_forwardVarious parties occasionally call for import limits or levies on foreign produced items , most notably automobiles, so how these likely to be beneficial or harmful ?arrow_forward
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